LET US MARCH FORWARD IN THE REVOLUTIONARY PATH SHOWN BY COMRADE TARIMALA NAGI REDDY.
By July 28, 2016 forty years have elapsed since the martyrdom of our beloved leader Comrade Tarimela Nagi Reddy. This is the solemn occasion to commemorate and memorise our great leader by recollecting for what he fought and strove through his entire life and died and to pay our homage to our beloved leader Com T.N, by rededicating ourselves to the revolutionary tasks in the light of the path shown by him and his teachings.
Com T.N is a great revolutionary-communist leader. He is an exemplary Marxist-Leninist intellectual. His sole and life-long objective was to resurrect the great glory of the Indian people and the Indian nation. Thus he was a patriot of the highest order. He has shone as a hero in the field of revolutionary politics of India. He was a great person who sacrificed every-thing in his life to the cause of Indian revolution. He is one of the best proponents of the theory of communist revolution in India.
He has studied in detail and depth about the pitiable conditions and their cause which have been looming in India even after a period of so-called independence of India in 1947 and analysed them with a true Marxist-Leninist perspective. He reached to the irrefutable conclusion that only transfer of power has occurred between the British colonialists and ruling-classes of India in 1947, but not independence to India in 1947.
He has concentrated his attention of his study particularly on the role of foreign capital in India; and its adverse effects on Indian economy. He had drawn the correct conclusion that inviting foreign capital to India is nothing but inviting imperialist exploitation, and total submission to imperialism.
He proved that even after 25 years of the so-called proclamation of independence, economic independence of India has become a mirage. He, with his astute analysis, has proved that India is still a semi-colonial and semi-feudal country. Basing on these conclusions drawn by him, he considered the Indian National Liberation struggle has not yet concluded and he explained that it is the duty of Indian people to continue the struggle with steadfastness and vigour. Teaching that the Communist revolutionaries of India have to re-build the revolutionary Communist Party, with the discipline of the past, with selfless sacrifice, basing on strong foundations of proper theory and path and have to build a strong revolutionary organisation.
Throughout his life Com. T.N. has tirelessly strove to realise this objective with utmost dedication. Through his court-statement called ‘India Mortgaged’ he proved the inevitability and the imminent necessity of a new democratic revolution to occur in India. The formulations made by Com T.N. and the conclusions drawn by him are as relevant today, as when they were made 45 years back.
He had properly and fairly warned that the foreign capital and investments in India, instead of causing the development of Indian economy would drain the wealth of India in different forms, and that poverty, illiteracy and unemployment in India would increase in to unimaginable proportions.
He categorically and clearly warned that with the foreign capital and investments in India will fall in to total dependence on foreign powers (imperialists). Basing on the available data on the flow of foreign capital in to India by 1972 itself and on the details of its impacts affecting Indian economy, he properly concluded that ‘India was mortgaged’ to foreign capital.
In these 40 years after the demise of Com T.N, to facilitate the easy flow of foreign direct investment into India, the gates have been fully opened. To facilitate the free exploitation of India by foreign direct capital more opportunities, protections and exemptions are provided. To provide a dominant role to the foreign direct capital in Indian economy, the main lifeline of the people of India-the agricultural sector has been totally neglected and forcibly pushed into severe crises. The base for the sustenance of farmers (peasants)-the agricultural arable land-is being forcibly acquired by the government and is legally being donated to the big-capital, multinational giant corporates to pursue their real estate ambitions or corporate farming. For the protection of the interests of the FDI, the constitutional rights of the people of India are being rescinded (abolished) and withdrawn.
In a systematic process, now 100% of FDI entry is admitted into key and important sectors of our country. The legal restrictions and laws regulating the entry of FDI are totally removed. Into the fields of defence, pharmaceutical and drug manufacturing, civil aviation, single brand retail sector, e- commerce sector in food products the entry of 100% of FDI is permitted.
Now, inviting the FDI, protecting the interests of FDI and making it happy has become the sole objective, purpose and duty of the central and state governments of India. Previously only the central government is used to permit and decide the fields in to which the FDI is allowed and regulate it. But presently even the rulers of the state governments are touring foreign countries and inviting FDIs in to their states with a begging bowl in their hands. All this is happening under the pretext of federalism and in the name of supplementing domestic capital, technology and skills for accelerated economic growth.
But in reality neither the economic growth is occurring nor the technology nor are skills being transferred to India. The very experience of our country is proving that the FDI is controlling our economy and that the technology is not being imparted and made available to our reach.
Due to the FDI flow into India instead of the reduction of the problem of the balance of payments, it has been increasing day by day. Had there not been the home remittances of the poor workers in the Gulf countries, our country would have totally drowned in the problem of balance of payments.In proportion to the FDI inflows in to our country, the outflow of money in foreign exchange is increasing considerably.
According to the available official data, it is revealed that more amounts than the actual inflow of FDI are being repatriated and such an outflow is increasing abnormally. In 2015 the external debt to India stands to be 24% of the G.D.P. of India; and is increasing every year. According to the RBI report, in the period between 2009-10 and 2014-15, outflows due to repatriations, dividends and payments for technology constituted a major foreign exchange drain-nearly one-half of theequity inflows during that period.
The same reports tells that during the same period subsidiaries of foreign countries operating in India ran negative trade balances in almost all manufacturing sub-sectors. Together with remittances and other payments, foreign subsidiaries in more sectors regularly drew out surplus which looks quite large when compared with the capital that the foreign companies were bringing in.
Apart from the direct costs, the foreign investors are able to extract indirect benefits from our economy by using bilateral investment promotion and protection agreements (BIPA). The foreign investors have been challenging the tax liabilities imposed by the Indian government before private international panels; in the name of investor-state dispute settlements (ISDS).
The data provided by UN conference on trade and development (UNCTAD), reveals that the share of reinvested earnings constitute only a part of the FDI outflows, by the developing countries.
Recently Edinburgh-based Cairn energy had challenged the claim of the Indian government for a retrospective tax levy of Rs 29,047 crore, filing a claim to the international arbitration panel, demanding 18% higher than the amount demanded as retrospective tax levy. It claims $ 5.6 billion as a compensation from the government, if it is proceeding of tax demands.
Very recently the Deutsche Telekom, Devas has won an appeal against Antrix Corp, the commercial arm of India’s space energy ISRO, before the court of the permanent case of Arbitration (PCA) at Hague, under the arbitration rules of United Nations Commission on International Trade Law (UNCITRAL), and the international court of arbitration asked Antrix to pay $ 672 million ( Rs 4,400 crore) to Devas for having India breached its bilateral treaty with Mauritius to accord equitable treatment to foreign investors.
These are the clear examples of how the very sovereignty of India is being undermined and dis honoured by FDI in India. Very recently C.A.G. found out that six telecom operators-RCom, Vodafone, Airtel, Aircel, Idea and Tata have underreported their revenues of their accounts leading to a loss of Rs 12,488.93 crores in tax to the exchequer from 2006 to 2010. The CAG has also revealed the true face of financial fraud perpetuated on the peoples’ savings in the form NPAs of the banks, by the big-capital. As on March 31, 2015 the NPAs amounted to Rs 3 lakh crores,while over 40% (1.21 lakh crore) is due to 30 corporates. Ten state-run banks suffered losses of over Rs. 15,000 crores in the fourth quarter of 2015-16 financial year due to the NPAs gobbled by the corporates.
The CAG stated that ‘a large part of the advances (NPAs) may have been transferred abroad and may never be recovered. The award of London Court of international arbitration against breach of the joint venture agreement between Tata sons and Docomo, to pay $ 1.17 billion to Docomo, to exercise its exist option of the joint venture agreement again reveals how the FDI trade agreements favour the foreign investors with one sided and uneven terms to the disadvantage of Indian partners.
Today the fresh corporate debt in India is supposed to be growing at 50% of the nominal GDP growth.
Thus the FDI is not only playing havoc with Indian economy but is also making India totally dependent on it. The rulers, ruling-classes and particularly the comprador bourgeoisie are wholly responsible to this degraded condition of the dependency of our country on foreign investments.
Now it will not be an exaggeration if we call “INDIA- THE TOTALLY DEPENDENT COUNTRY” in the light of the outlook and perspective shown by Com. T.N. in his outstanding conclusions that ‘India was Mortgaged’.
On one hand the outflow and drain of great wealth from India and on the other hand the ever increasing poverty, inequality, unemployment and ill health into boundless proportions is the pitiable scene of India which has been overwhelmingly drowned by FDIs.
As Comrade T.N. had questioned with a just and patriotic anger “can any citizen with a grain of patriotism in him can remain silent without revolving against such a degrading state of affairs to resurrect the great glory of the Indian people and the Indian nation?”
That is why let us march forward in the path shown by our beloved leader Com T.N., to move the people to fight against these shameful conditions duly exposing the machinations and illusions and tactics propagated and practiced by the rulers and ruling-classes! Let us pledge to rededicate to our revolutionary task of continuing a new democratic revolution to success, overthrowing the system of the imperialist and feudal forces and their henchmen comprador bourgeoisie and establish a people’s new democratic system! This alone will be the fitting homage to our departed beloved.